This is a fully rehabbed property with a nice in-place income. Sellers purchased this in 2007 and have performed extensive renovations and face-lifts to the buildings and units. All of the updates are being finalized within the next month or so.

Price: $17,000,00 (we think they will take closer to $16M - Seller rejected a $15.25M offer)
Units: 360+/- 114 units are townhouses and the remaining apartments which creates a unique situation to sell off the townhouses ,reduce the debt and dramatically increase the cash flow.
NOI: $1,516,62
Cap Rate: 8.9% Based on asking / 9.5% based on $16M (which is very likely)
Occupancy: 95%

Financials and Rent Rolls available upon signing the NCND. Buyer Responsible for a 2.5% fee.

Connected Investors Funding

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